Qld government to release gas plan

The Queensland government aims to maximise gas exploration and its related economic benefits with an action plan to be released next year.

The terms of reference have been handed to industry leaders ahead of government consultation this year about the issues within Queensland's petroleum and gas industry, which supports about 145,000 jobs, amid increasing demand.

"By 2018, Queensland is expected to be the fourth-largest LNG exporter globally and by the end of the decade, Australia has the potential to be the world's leading LNG exporter," Minister for Natural Resources and Mines Dr Anthony Lynham said.

Queensland stood to benefit from the plan if it encouraged the continuing growth of the industry, the Australian Petroleum Production & Exploration Association (APPEA) said.

With the right policy settings, the industry could potentially power the state's economy for decades, said APPEA spokesman Paul Fennelly.

"It is essential that the plan focuses on policies that will substantially enhance the industry's global competitiveness and encourage investment in new exploration and production," he said.

"That means continuing to reject unworkable intervention policies, such as domestic gas reservation, that will deter investment and only create adverse economic outcomes in the longer term."